Case Study: Midland States Bank streamlines ERM and achieves COSO 2013 compliance with Acuity Risk Management’s STREAM®

Midland States Bank generates reports in minutes with Acuity Risk Management

Midland States Bank, an Illinois-based financial services company, needed to replace its inefficient spreadsheet-based tools for Enterprise Risk Management (ERM) and achieve COSO 2013 compliance in preparation for its initial public offering. The bank sought a cost-effective and quickly deployable solution to streamline its internal control framework and chose to implement the STREAM® platform from Acuity Risk Management.

Acuity Risk Management's STREAM® solution was deployed in a matter of days, enabling Midland States Bank to build a comprehensive and compliant ERM framework. The results were significant: reporting that previously took days was completed in minutes, the system expanded to support dozens of users, and its use grew to manage risk frameworks, audit findings, and operational events. This provided the bank with an IPO-ready control environment at a fraction of the expected cost.

Midland States Bank